The 3rd type of card, which I know not a.
lot of people individuals about is your prepaid pre-paid. Now the pre-paid card, is something like your.
Debit card, meaning you actually require.
Now, how do you actually use to get your.
Next, what are the types of credit card?
https://www.youtube.com/embed/2OGvbYWvKeI What is up everyone welcome back to my channel In todays video, we will be talking about
all the basics or what you require to understand before having your really first credit card And in this video, i will be teaching you
precisely how I got my extremely first charge card without applying at all! If you want to know all the things that
belong to having your charge card or if you currently have one, what are the things
you might be considering to understand, then please keep seeing (Intro) So for the first part, I will be discussing
the 3 types of cards that you might be obtain from your banks The first one, is your debit card. This is typically opened, or provided to you when
you open your very first savings account or your savings account rather in your bank of
choice. Usually, debit card is provided to you so
you could access the funds that you offered to your savings account or you transferred to your
cost savings account so you might have open door to wherever you might need your money.The 2nd type of card, is your charge card. Your charge card is essentially a Card that
you can use to borrow cash from the bank and you promise to pay it at a specific due
date. The 3rd type of card, which I know not a.
great deal of people talk about is your prepaid card. Now the prepaid card, is something like your.
phone expense or your smart, globe telephone bill wherein you in fact purchase your load prior to.
you can use your load. This is the same type for the bank card,.
which is the pre-paid card that functions most likely your debit card, but is actually a credit.
card. HUH? Confusing, ideal? So, debit card, meaning you in fact require.
to put cash in to the pre-paid card and after that you can utilize it to buy something. This is good, because not all merchants really.
usage or permit debit cards, due to the fact that for phishing and scams, debit cards are extremely really fragile.
Actually have to safeguard them at all cost. So having a charge card, is what is typically.
recommended for purchases especially online.Now, having a prepaid card makes it more safe. Why? Due to the fact that there is only money that you put.
there according to what you need. So for example, I wished to buy this.
top from this shop, and it costs 3000php, so I will just fill my card, and then it will.
actually enter there instantly, especially if you utilize the app, I m utilizing BPI, the BPI.
amore card. And then when I buy it, it automatically.
appears there.The finest part of having a pre-paid card is.
you do not get to worry about undesirable swiping or people taking your account and using.
Because if you dont put cash on it then they cant utilize it, your prepaid card.? Now, how do you in fact apply to get your.
really first charge card? The first type, is of course, we all know.
it, is to go directly to your bank of choice or you go online. Now if you ask me, my choice would be.
to go to the physical bank, why? Cause it is simply much safer and you are going.
to provide valuable info that you do not wish to fall in the incorrect hands.Back story, i really did make an application for my very.
first credit card. The one thing, that occurred was that I got.
denied. (I got rejected) And it was actually a very unfortunate experience.
due to the fact that i was believing that i would get authorized knowing that my bank had two accounts under.
my name already. I had my bank account and also my cost savings account which was basically.
roughly 2 or more years in their bank.And i was actually confused why I got rejected,.
and i in fact did ask their customer care why I got denied and they werent able to provide.
me a legitimate answer. Next is, Pop up stalls So if you could see those pop-ups where in.
they offer free cards, they normally do offer totally free things when you look for a credit card. Now, for this, I wasn t able to apply through.
this line since files were needed at that time and I wasn t bringing all of it.
in my bag. The third action that i would give you is truly.
And that is, develop your bank relationship. Essentially, your cost savings account if you dont.
have a passbook would have a preserving balance of 3,000 php now this depends upon what bank.
If your keeping balance is 3,000 then, you have.But.
I highly recommend that you Put in more money than you would withdraw. So, what I did i was positioning cash in my account.
for X number of months that I didn t touch and then suddenly, the bank resembled, Hi.
ma am we wish to notify you that you are currently preferred already and have your.
application pre-approved. You simply require to go to the bank and really.
sign the documents required and give some other information. for example, your preserving balance is 3,000 php.
and maybe you have 10,000 each month that you will not touch, but the greater the value,.
the higher the opportunities of getting pre-approved. Now, let me just clear it out, I in fact.
had a letter from the bank saying that my application for my credit card, dated lets.
state March got denied.So, this is definitely one of the reasons that I believe that i got.
my very first credit card without actually having the need to look for it.Now, if you will attempt it out, i would extremely.
appreciate if this technique is absolutely a go, to especially if you are a freelance.
or an independent worker and you simply really dont have all the documents protected and still.
desire your credit card. Next up, requirements, what are the things,.
that you in fact need in order to submit or apply for your charge card. One is your ITR or earnings tax return. They in fact do enable if you dont have this.
your earnings payslip or payslip from your company. If you are a freelance worker, and you.
dont really have a payslip, this can be found in difficult and this was actually tough for me in.
the first part. Due to the fact that not having a payslip implies, that even.
if you do have work, they cant truly approve of it. Next, is government released IDs. Generally, they ask of you 2. So you could have your PRC license, your drivers.
license, your Pag-ibig, SSS or generally any federal government released ID.Next is, evidence of billing. Generally I would have a statement or a costs.
of account that has your name on it. Now with this document, they would actually.
inform that this address is right which you really live there. What if you dont have a billing declaration.
Simple. You simply ask your mother or your papa or your.
relative that you are living with.And then, Ask them authorization, really, The bank will ask of you a letter and then.
from the letter it ought to signify that you are actually living there and all the needed.
files or Information need to be included in the letter. Problem fixed. Right? Lastly, the files that you require to sign,.
normally, you would go to the bank and have the documents that you require to check in order.
to submit your application. Next, we discussed statement date and due.
date Now this was a little bit complicated on my.
part Because statement date was relatively confusing when you get your first credit card What is a declaration date? It means that the purchases that you utilized.
from Day 1 to Day 30 would be billed on the next due date. So, due date is the ideal time that you in fact.
spend for your expenses. If my statement due is September 9, that.
means that all the buy from September 1 to September 9 would be consisted of in my billing.
for that month which is on September 30. This is, gon na differ from Person to individual.
due to the fact that everyone may have a various statement date and due date. Now what you need to keep in mind however, that.
Like for example if i already purchased lets say 15,000 php if you do want to acquire.
for this month and i understand i have to pay it on August, that implies if i purchase it on.
September 9, then I would be adding lets say 5,000 which would equal to 20,000 php for this.
month. Now, if you desire to optimize the advantages.
of in fact owning a card. Then you might have the purchase done after.
the statement date, which is possibly September 10 and after that you would pay it on the next billing.
period which is on October 30. So that is among the important things that you could.
get as an advantage when you own your charge card. Next, what are the types of credit card? Now i need to state that the type of credit.
card that you will be able to select may be depending upon your month-to-month earnings. Now, for starters, they normally get the base.
credit card that is used in their bank. For me, i had the really fundamental one, which.
is what they normally use for their very first time charge card holders, and that s okay! Now, if you re going to choose to have your.
3rd or 2nd credit card.What would you select, Now you have to identity what actual lifestyle.
you have. So if you are someone who enjoys traveling,.
there are different banks that use a great deal of cards for miles, so example, you pay, it.
depends on the bank, if they state 30php is equivalent to 1 mile, which is you will be.
able to simply pool it in together and build up in order to acquire a totally free flight round journey Now it actually depends bank per bank since.
often they have a smaller conversion rate while the other bank would have a bigger conversion.
rate One pointer i would give you is to inspect what.
bank you would choose, however generally they would have a specific accumulated points for you.
to declare to get your totally free flights So possibly for citibank, I really observed,.
how it was 30php for 1 mile.Next is shopping, so there are a great deal of cards.
if you ve discovered, there are forever 21 cards, or mango with this tie up with this.
certain bank. And then, if you are a regular purchaser from.
that store then it perhaps a likelihood for you to get Why? since Normally for these types of cards.
If you re that type, they offer you complimentary unique first dibs on their new collection.
of consumer. Which is really good, OR if you really.
choose to buy. Lets say, BPI amore or the Ayala cards.
or Ayala benefits cards which essentially means that if you go shopping throughout all Ayala s.
nationwide then you get more points.So it actually, Depends on your lifestyle So there is in fact a gasoline rewards cards.
If you are the type to drive your vehicle around and of course get gasoline all over so then.
maybe you would consider these types of cards. Now, the one that is normally offered is the.
rebates card. That means that for every single purchase, you get.
a free accumulated points and still get it for particular things. Which s the various kinds of cards.
that you may consider on getting. However I m not so sure if you could get it.
on your very first card.It depends on your month-to-month income since.
your month-to-month bracket is among the bottom lines wherein the bank would recommend you on what.
card would work best for you. Now, the next part of this video, is actually.
When you already, defining to you the terms that you have to comprehend prior to or even.
have your credit card The very first is your declaration date, so the statement.
date is generally the date in which all the buy from day 1 to day 15 would be billed.
on your next billing date which is in fact understood as your due date.Now, what if you desire to maximize your credit.
card, this is where it comes useful, now if your statement date is up to September 9,.
then ideally, you would purchase on September 10 or onwards so you will have a longer freedom.
prior to you pay for your stated purchase. If i currently purchased maybe 15,000 php.
from September 1 to September 9, this is simply an example and then the billing date or due.
If i purchase something on September 10 then I would be, date would be on September 20 then.
paying it on the next month.Now this is where having a charge card is.
in fact excellent. If you in fact use it right then you wont.
have any problems. Next is, i understand you have actually heard it, they would.
constantly state, this is on promotion, Wala po itong annual charges for life. Yan yung SinasabI Nila. That s what they constantly state. So what does it truly mean? There is constantly a fine line. So always check out the small print on what it takes.
for you to get that discount When I requested for my card, they stated that this.
is the quantity of purchase that I need for X variety of months which I will be qualified.
to in fact get for the totally free lifetime promotion. And you need to do it every single year. For this part, you have to ask your bank.
in charge on what in fact is the great line because it is your right to know that and.
their responsibility to inform you what that is. Next is, annual charge, as what i discussed.
previously, if you are gon na get those high ranking or top tier cards then many of the time, they.
really charge you an annual charge.So for among the cards that I was in fact.
able to research study is that they have an annual fee of 5,000 php. This means, that on an annual basis you have.
to pay 5,000 php on top of what you are already paying your UTANG or what you bought using.
your card. It really depends on you on what you prefer,.
You have to ask your bank if you prefer a lifetime fee of 0. Now that s essentially what you need to understand.
on having your really first credit card. And if you in fact take pleasure in listening or knowing.
more on how to handle your financial resources then i hope you would hit that alert and subscribe.
bell because in the next video i will be teaching you how and why you in fact need a prepaid.
card. This is good especially for those who are.
a little reluctant on getting a credit card because one, mahilig ako mag store That is one of the reasons, that I observed.
for individuals who are on the fence on getting their very first credit card and so lots of more.So if youre interested make certain to subscribe.
and of course struck the notice bell so ill see you on the next one! Bye in the meantime. As found on YouTube – Creative Commons License.